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Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
 As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; changes in bunker infrastructure, availabilities and pricing are all having a major impact, posing challenges to bunker buyers and these are not going to go away quickly.
The process of switching infrastructure (storage and barges) from HSFO to VLSFO has been noticeably underway since September. We have seen a significant strengthening and then weakening in HSFO prices (see Integr8 briefing note 22nd November 2019) and now we are at the next stage, where buyers have/are switching rapidly towards VLSFO. The impacts of this change-over are again easily seen, in terms of terminal congestion, barge delays, availabilities and of course price.
Since October the quoted price of HSFO has fallen sharply, whereas the price of VLSFO in Rotterdam has been around $480-500/ton. VLSFO prices in Gibraltar, Fujairah and Singapore rising fast and well above the $540-560/ton range we saw in October/November. This means quoted VLSFO prices are now around $230-240/ton above HSFO.
VLSFO prices can vary by as much as $80 per tonne in the same region
The moves in VLSFO pricing reflect owners shifting towards these new compliant fuels and that there are constraints on infrastructure and availabilities in the VLSFO supply chain. The extent of this is not only seen in VLSFO price differences between main bunkering regions, but also VLSFO pricing within a given region. The graph below illustrates the significant variation in VLSFO pricing within the Mediterranean, with for instance quoted prices at Piraeus sometimes anywhere between $20-80/ton below Gibraltar prices and prices in Malta still plus or minus $20/ton compared with Gibraltar quotes. These positions mean as a buyer, being adaptable and looking at possible alternate bunkering locations could be very attractive.
In some instances MGO prices are only a small premium to VLSFO
Finally, these squeezes in VLSFO have already led to instances where there is an extremely small price differential between VLSFO and MGO (or even some instances where MGO has been priced below VLSFO). Currently, there is less than $10/ton differential between quoted prices for MGO and VLSFO in Singapore, down from around a $75/ton differential a couple of months ago. This is another strong case for buyers being adaptable in that bunkering MGO could be the ‘best option’.
These developments in the Med and Singapore markets are only illustrations of what can happen in other global regions and reflects the squeezes on the VLSFO system at certain times and in certain areas. There is no ‘quick fix’ here and issues will continue to arise well beyond the January 1st IMO 2020 start date, as shipowners start burning VLSFO and will have to build and replenish VLSFO stocks on board.
We are providing buyers with access to this information and analysis on any tightness in availabilities, any constraints on terminal and barging operations and ultimately the knowledge on pricing, all of which will assist decisions in this complex and consistently changing market.
Source: Integr8 Fuels
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Monday, 02 December 19
GREENER LNG IS VITAL TO ASIA'S SUSTAINABLE DEVELOPMENT - WOOD MACKENZIE
Asia struggles with the world’s worst air pollution. Delhi hit the headlines in November 2019 as levels spiked to such hazardous levels that ...
Monday, 02 December 19
5TH EAST & SOUTHERN AFRICA GAS & LNG CONFERENCE 2020
5th East & Southern Africa Gas & LNG Conference 2020
April 2-3
Maputo, Mozambique
5th East & Southern Afri ...
Monday, 02 December 19
5TH DEEPWATER EAST & SOUTHERN AFRICA CONGRESS 2020
5th Deepwater East & Southern Africa Congress 2020
April 2-3
Maputo, Mozambique
5th Deepwater East & Southern ...
Sunday, 01 December 19
6TH CENTRAL & EASTERN EUROPE NUCLEAR INDUSTRY CONGRESS 2020
6th Central & Eastern Europe Nuclear Industry Congress 2020
January 20-21 | Prague, Czech Republic
Overview
6th ...
Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
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- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Australian Coal Association
- Indian Oil Corporation Limited
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
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